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THE text of the controversial Trans-Pacific Partnership trade pact was released in New Zealand yesterday.
It revealed some concessions to public concerns over the investor-state dispute settlement (ISDS) system and intellectual property agreements that could lead to sharp rises in medicine costs.
Trade unions, health workers, consumer groups and environmentalists say ISDS allows firms to override national labour rights, health and safety and environmental protections.
One concession over ISDS was that countries can specifically ban tobacco companies from using the tribunals to challenge health regulations.
The agreement stresses that its provisions on patents for medicines “do not and should not prevent a party (country) from taking measures to protect public health.”
In response to US pressure, TPP countries agreed to give drug companies eight years of protection from cheaper competitors for medicines produced in living cells. The industry had sought 12 years’ protection.
